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New Zealand law explained for everyone

Building Societies Act 1965

Miscellaneous provisions

130: Form in which records may be kept

You could also call this:

"How to store and protect society records"

You can keep any register, record, or accounting record for a society in different ways. You can write the information in bound books or record it using other methods.

If you don't use a bound book to keep these records, you need to be extra careful. You must take good steps to prevent anyone from changing the information falsely. You also need to make sure it's easy to find the information when needed.

If you don't follow these rules for keeping records safely, you're breaking the law. The society and any person in charge who doesn't follow these rules can get in trouble for not obeying this Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM372397.

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Part 9Miscellaneous provisions

130Form in which records may be kept

  1. Any register, record, or accounting record to be kept by a society may be kept either by making entries in bound books or by recording the matters in question in any other manner.

  2. Where any such register, record, or accounting record is not kept by making records in a bound book but is kept by some other means, adequate precautions shall be taken for guarding against falsification and for facilitating its discovery.

  3. Where default is made in complying with subsection (2), the society, and every officer of the society who is in default, shall be guilty of an offence against this Act.

Compare
  • Building Societies Act 1962 s 122 (UK)
Notes
  • Section 130(1): amended, on , by section 14 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).
  • Section 130(2): amended, on , by section 14 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).